Guideline Value for Bharathi 1st Street

Bharathi 1st Street guideline value

The current guideline value of Bharathi 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Bharathi 1st Street has changed

The guideline value of Bharathi 1st Street has seen several revisions over the years. In 2002, the value was Rs 208 per sq.ft, which increased to Rs 237 per sq.ft in 2003, marking a 14% rise. The value continued to grow significantly, reaching Rs 900 per sq.ft in 2007, representing a 280% increase. By 2012, the value was Rs 3,500 per sq.ft, showing a substantial increase of 289% from the previous revision. However, this value decreased by 33% to Rs 2,345 per sq.ft in 2017.

From 2017 to 2023, the guideline value increased by 49%, reaching Rs 3,500 per sq.ft. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft, reflecting an 11% increase from the previous year. The register has no figure for the years not mentioned in this summary.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, which is equal to the current value of Bharathi 1st Street.

• Bharathi 2nd Street: Rs 3,900 per sq.ft (2024)
• Bharathidasan nagar: Rs 3,900 per sq.ft (2024)
• Bharathidasan Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Bharathi Street: Rs 3,900 per sq.ft (2024)
• Bharathi Street Nilamangai Nagar: Rs 3,900 per sq.ft (2024)
• Bharathiyar Street Vanuvam Pettai: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value would be Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathi 1st Street?

The Sub Registrar Office that covers Bharathi 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Adambakkam

The guideline value is a critical factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bharathi 1st Street?

The current guideline value of Bharathi 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 208 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1,775% over the years.

What is the median guideline value in Adambakkam?

The median guideline value in Adambakkam for 2024 is Rs 3,900 per sq.ft, which is the same as the current value for Bharathi 1st Street.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Bharathi 1st Street?

The Sub Registrar Office for Bharathi 1st Street is located at Alandur Sub Registrar Office, 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.